Improve

-oIncorporating the knowledge and experience gained from innovating into the next round of innovation has been made easier through engaging key stakeholders in the learning process and embedding the knowledge gained into the company’s policies and training. This will avoid repeating the mistakes of the past.

Build on the knowledge gained from the innovation experience by drawing on other peoples experience with innovation. Look to take the next step in broadening your networks and those of other employees within the company. Innovation is collaborative and the more ideas flowing into the company from numerous sources the better the opportunity to convert an idea into an innovation.

Think about the current culture in your organisation, has it shifted from the start of the innovation adventure to now. Think about developing a culture of innovation so that ideas are constantly generated and processes are in place to facilitate the conversion of ideas into innovations. Innovative companies have incentives both at the corporate level and at the employee level. For example 3M looks for 30% of their sales to come from products that have been in existence for four years or less. 3M also encourages its technical staff to spend 15% of their working hours on projects of their choosing.

Your company may not be ready for the level of innovation culture that 3M displays but there are small steps you can take to improve the innovation process. You can achieve this by simply encouraging and supporting employees’ ideas and/or establishing open relationships with your suppliers and customers so that they can contribute to solving your innovation issues.

Innovation is a big idea with big potential. But it is wise to approach it in small steps, implementing just one or a few of the ideas and building from there. For many companies, the initial steps on this value-creating journey are the most critical of all1.

Innovation is about constant improvement and the process of innovating should be viewed the same way.

Good luck with your next innovation adventure.

1 Barsh J., Capozzi MM., Davidson J., Leadership and Innovation, The McKinsey Quarterly 2008 Number 1